Philadelphia Financial Management of San Francisco LLC cut its stake in Virtus Investment Partners Inc (NASDAQ:VRTS) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,270 shares of the closed-end fund’s stock after selling 22,977 shares during the period. Virtus Investment Partners accounts for approximately 3.9% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 6th largest holding. Philadelphia Financial Management of San Francisco LLC owned 3.22% of Virtus Investment Partners worth $26,493,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Crossmark Global Holdings Inc. acquired a new position in shares of Virtus Investment Partners during the third quarter valued at $204,000. Cubist Systematic Strategies LLC increased its holdings in shares of Virtus Investment Partners by 1,798.9% during the third quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after purchasing an additional 1,709 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Virtus Investment Partners during the fourth quarter valued at $287,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Virtus Investment Partners by 73.2% during the third quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after purchasing an additional 1,150 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of Virtus Investment Partners by 17.5% during the second quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock valued at $319,000 after purchasing an additional 427 shares during the period. 95.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Sandler O’Neill set a $132.00 price target on Virtus Investment Partners and gave the company a “hold” rating in a report on Thursday, January 11th. Credit Suisse Group raised their price target on Virtus Investment Partners from $166.00 to $173.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Zacks Investment Research lowered Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Saturday, November 18th. Finally, Barclays raised their price target on Virtus Investment Partners from $133.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $139.00.
Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.18. The firm had revenue of $128.00 million for the quarter, compared to analyst estimates of $127.09 million. Virtus Investment Partners had a return on equity of 13.75% and a net margin of 8.70%. Virtus Investment Partners’s revenue was up 60.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. equities analysts anticipate that Virtus Investment Partners Inc will post 12.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, April 27th. Virtus Investment Partners’s payout ratio is currently 45.57%.
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Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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